Just a word of caution: These are nice for times when you would like to leave your key with the vehicle for whatever reason, but not as a permanent hidden key location. Once moisture gets in there it will start to corrode and eventually the sliding compartment will be unable to slide out. Leaving this product in your hitch all the time is not advised.
I use one for whitewater kayaking trips and it is very useful for that type of short term storage.
Edit: Unfortunately this new vehicle can't utilize this product. I didn't have the proximity key fob on my previous trucks, this new one would mean anyone could just open my truck by grabbing the handle.
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Actually you could use it if you can find a Faraday bag that will fit both the key and inside of the hitch lock. Faraday cages block RF signals so while the key is in the bag it cannot send any RF signals to your truck.
Just google "faraday bag" and you'll find a ton of options.